Research On Operating Mode Of Intellectual Property Pledge Financing In Small And Medium-Sized Enterprises

Small And Medium-Sized Enterprises (SMEs) take an important role in the development of economics, and the contribution rate to the national economy is more than 60%. But it is greatly asymmetric between their financial services and strategic position,and the share of their available credit resources has been low, which result in funding shortage to SMEs. Beijing branch of Bank of Communications issued patents-pledging loan for Beijing Kerry Biomedical Technology Co., Ltd in October 2006, which made a beginning in SMEs and this provided a new way to alleviate the financing problems of SMEs. A set of operating modes meeting the demand of the country are needed in Pledge financing of intellectual property. But in fact pledge financing of intellectual property has just begun in China, and its operating mode should be improved constantly. This article carries on a research in this context.A set of operating modes meeting the demand of the country are needed in Pledge financing of intellectual property,and it is necessary to carry out them, but their researches are just at the beginning stage, and the problems that exist in the existing operation mode of are almost summarized in three aspects: First, its high cost; second, the unreasonable risk pooling and profit sharing mechanism in intellectual property rights; third, the institutions in pledge financing do operations separately, and their linkage is not strong.In order to solve the above problems, firstly the comparative analysis and normative analysis are used, and combined with the knowledge that related to the non-equilibrium theory of information, this paper presents deeply the domestic SMEs'operating modes in pledge financing by intellectual property rights, and get some useful enlightenment. Second, based on the specific conditions in our country and principal-agency theory, this paper provides optimized operating model of pledge financing by intellectual property rights, then gives an suggestion of establishing the local productivity promotion centers, and integrates it into the guarantee system of our SMEs; introduces the consulting group for the guidance, in order to reduce business risks and supervise SMEs after loaning; designs the operation of various agencies in the optimization modes, and gives the recommendations on risk prevention of agencies. Finally, strengthen the construction of operating environment in the optimized operating model for its running smoothly. The innovation in this paper is the optimized operating model of pledge financing by intellectual property rights in SMEs is established. And based on the transaction cost theory and non-equilibrium theory of information, local productivity promotion centers in the optimized model is established, and it ties banks, intermediary agency, enterprises and trading platform for the intellectual property rights, and formed a linkage mechanism.